NEW YORK: Goldman Sachs Group Inc and Morgan Stanley are trading below their tangible book value for the first time in more than two years.
The two largest equity-trading banks, which report fourth- quarter earnings this month, dropped more than 3% on Thursday to fall below tangible book value, a measure of what the companies would be worth if liquidated.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!